Fiera Real Estate Debt Strategies (“Fiera”), an affiliate of Fiera Capital Corporation, a global asset management firm with US $117.6 billion in assets under management, has provided a £36 million senior development facility to a partnership between Chancerygate and specialist sustainable and impact investor Bridges Fund Management for the delivery of a new urban logistics and multi-let industrial (MLI) scheme in Erdington, Birmingham.
The project, named “Torque”, will transform a 12-acre former factory site into a Grade A development comprising 22 units across 270,000 square feet, with individual unit sizes ranging from 4,500 square feet to 33,000 square feet. Chancerygate and Bridges disposed of Torque as part of a 750,000 square feet multi-asset sale to Indurent, a leading developer, owner, and operator of industrial and logistics space across the UK.
Source: press release sent September 24th